Ford F-150 Lightning: A Big Price Cut After a Big Price Hike
The Ford F-150 Lightning caught a lot of attention when it was introduced in 2022 for its impressive capability and its reasonable pricing. The electric pickup quickly accumulated 200,000 online reservations, prompting Ford to stop taking orders. Then, in 2023, with demand still surging and supply chains still restricting production, the company jacked up prices, sometimes by thousands of dollars. Now, in a reversal of its previous moves, Ford has just announced significant price drops across the F-150 Lightning lineup.
Ford claims that the lower prices for the Lightning are a result of “greater plant capacity and improving efficiencies” as it scales up production of the electric F-150. That may be partially true. The other factor may be the fact that electric vehicle inventories are up across the country, and that Lightnings aren’t selling nearly as quickly as they used to. They spend more time on dealer lots, requiring deeper discounts to sell to customers.
F-150 Lightning: Up to $10,000 Less Expensive
Ford’s changes to starting MSRPs for all models drop the entry point for a Ford F-150 Lightning by between $6,000 for the smallest cut and almost $10,000 for the biggest cut. The biggest price cut actually comes on the least-expensive model, reducing the starting MSRP of an F-150 Lightning Pro SR from $59,974 to $49,995.
The MSRP changes are as follows:
- F-150 Lightning Pro Standard Range with 18-inch wheels: $49,995 (MSRP reduced by $9,979 or 16.6% from $59,974)
- F-150 Lightning XLT Standard Range with 18-inch wheels (311A): $54,995 (reduced by $9,479 or 14.7% from $64,474)
- F-150 Lightning XLT Standard Range with 20-inch wheels (312A): $59,995 (reduced by $8,479 or %12.4 from $68,474)
- F-150 Lightning XLT Extended Range with 20-inch wheels (312A ER): $69,995 (reduced by $8,879 or 11.3% from $78,874)
- F-150 Lightning Lariat Standard Range: $69,995 (reduced by $6,979 or 9.1% from $76,974)
- F-150 Lightning Lariat Extended Range: $77,495 (reduced by $8,479 or 9.9% from $85,974)
- F-150 Lightning Platinum Extended Range 22-inch: $91,995 (reduced by $6,079 or 6.2% from $98,074)
Eligible for EV Tax Credits
Price cuts also mean more models are eligible for federal electric vehicle tax credits. In fact, the only F-150 Lightning not eligible for a $7,500 credit is the Platinum version; all other models have starting MSRPs below the $80,000 threshold. (All models are eligible for a $7,500 incentive when leasing, provided other restrictions are met.)
Ford says that upgrades at its Rouge Electric Vehicle Center in Michigan, combined with improving battery material costs, have made it possible to lower pricing across the F-150 Lightning line. Customers can now order a truck to be delivered as early as October. In a sign that things in the electric car market are returning to normal, Ford is even offering a $1,000 bonus for retail customers who build their own high-end XLT, Lariat, or Platinum trim truck through their dealer or online.
The cuts reinforce the F-150's position as a broad market leader, with lower prices just as new entrants to the market such as the Chevrolet Silverado EV launch with only high-end models. The GMC Sierra EV, a close relative of the Silverado, will also launch as a six-figure truck, with less expensive models to follow later.
Tesla Supercharger Access in 2024
Improved pricing comes on top of other good news; starting early next year with an included plug adapter, all Ford electric vehicle owners will have access to more than 12,000 Tesla Supercharger stations across the U.S. and Canada, making them more convenient to own as well as more affordable to buy. Starting in 2025, the Lightning and other Ford EV models will adopt Tesla’s North American Charging Standard (NACS) port as well.
